EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, FRIDAY, JANUARY 31, 2014
BEA 14-04


* See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.


James Rankin: (202) 606-5301 (Personal Income) piniwd@bea.gov
Harvey Davis: (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov
PERSONAL INCOME AND OUTLAYS, DECEMBER 2013
Personal income increased $2.3 billion, or less than 0.1 percent, and disposable personal income (DPI)
decreased $3.8 billion, or less than 0.1 percent, in December according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $44.1 billion, or 0.4 percent. In November, personal income
increased $29.8 billion, or 0.2 percent, DPI increased $14.4 billion, or 0.1 percent, and PCE increased
$74.8 billion, or 0.6 percent, based on revised estimates.

Real disposable personal income decreased 0.2 percent in December, in contrast to an increase of 0.1 percent
in November. Real PCE increased 0.2 percent in December, compared with an increase of 0.6 percent in November.

                                        2013
                                        Aug.            Sep.            Oct.            Nov.            Dec.
                                                       (Percent change from preceding month)
Personal income, current dollars        0.5             0.4            -0.1             0.2             0.0
Disposable personal income:
 Current dollars                        0.6             0.5            -0.2             0.1             0.0
 Chained (2009) dollars                 0.5             0.4            -0.2             0.1            -0.2
Personal consumption expenditures:
 Current dollars                        0.3             0.3             0.1             0.6             0.4
 Chained (2009) dollars                 0.2             0.2             0.1             0.6             0.2

FOOTNOTE.________
Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-to-month
dollar changes are differences between these published estimates.  Month-to-month percent changes are calculated from
unrounded data and are not annualized.  Real estimates are in chained (2009) dollars.

This news release is available on BEA's Web site at www.bea.gov/newsreleases/rels.htm.
_________________

                                Wages and salaries

Private wages and salaries increased $0.7 billion in December, compared with an increase of $35.0 billion
in November. Goods producing industries' payrolls increased $4.2 billion, compared with an increase of $10.6 billion;
manufacturing payrolls increased $2.7 billion, compared with an increase of $6.8 billion. Services-producing
industries' payrolls decreased $3.6 billion, in contrast to an increase of $24.4 billion. Government wages and
salaries increased $0.9 billion, compared with an increase of $1.4 billion.

                                Other personal income

Supplements to wages and salaries increased $1.7 billion in December, compared with an increase of $4.3 billion in November.

Proprietors' income decreased $8.3 billion in December, the same decrease as in November. Farm proprietors' income decreased
$14.3 billion in December, the same decrease as in November. Nonfarm proprietors' income increased $6.0 billion, the same
increase as in November.

Rental income of persons increased $2.1 billion in December, compared with an increase of $0.8 billion in November.
Personal income receipts on assets (personal interest income plus personal dividend income) increased $3.1 billion, compared
with an increase of $1.3 billion.  Personal current transfer receipts increased $2.9 billion, compared with an increase of $0.1 billion.

Contributions for government social insurance -- a subtraction in calculating personal income -- increased $0.7 billion in
December, compared with an increase of $4.7 billion in November.

                                Personal current taxes and disposable personal income

Personal current taxes increased $6.0 billion in December, compared with an increase of $15.5 billion in November.
Disposable personal income (DPI) -- personal income less personal current     taxes -- decreased $3.8 billion, or less than 0.1 percent,
in December, in contrast to an increase of $14.4 billion, or 0.1 percent, in November.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $42.0 billion in December,
compared with an increase of $72.7 billion in November. PCE increased $44.1 billion, compared with an increase of $74.8 billion.

Personal saving -- DPI less personal outlays -- was $495.2 billion in December, compared with $541.0 billion in November. The personal
saving rate -- personal saving as a percentage of disposable personal income -- was 3.9 percent in December, compared with 4.3 percent
in November. For a comparison of personal saving in BEA's national income and product accounts with personal saving in the Federal
Reserve Board's financial accounts of the United States and data on changes in net worth, go to www.bea.gov/national/nipaweb/nipa-frb.asp.

                                Real DPI, real PCE, and price index

Real DPI -- DPI adjusted to remove price changes -- decreased 0.2 percent in December, in contrast to an increase of 0.1 percent in November.

Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in December, compared with an increase of 0.6 percent in November.
Purchases of durable goods decreased 1.4 percent in December, in contrast to an increase of 2.1 percent in November. Purchases of motor
vehicles and parts accounted for most of the decrease in December and accounted for most of the increase in November.  Purchases of

nondurable goods increased 1.0 percent in December, compared with an increase of 0.6 percent in November. Purchases of services increased
0.2 percent, compared with an increase of 0.4 percent.

PCE price index -- The price index for PCE increased 0.2 percent in December, compared with an increase of less than 0.1 percent in November.
The PCE price index, excluding food and energy, increased 0.1 percent in December, the same increase as in November.

                                2013 Personal Income and Outlays

Personal income increased 2.8 percent in 2013 (that is, from the 2012 annual level to the 2013 annual level), compared with an increase
of 4.2 percent in 2012.  DPI increased 1.9 percent, compared with an increase of 3.9 percent.  PCE increased 3.1 percent, compared with an
increase of 4.1 percent. Real DPI increased 0.7 percent in 2013, compared with an increase of 2.0 percent in 2012.  Real PCE
increased 2.0 percent, compared with an increase of 2.2 percent.

                                Revisions

Estimates have been revised for October and November. Changes in personal income, in current-dollar and chained (2009) dollar DPI,
and in current-dollar and in chained (2009) dollar PCE for October and November -- revised and as published in last month's
release -- are shown below.

                                                                Change from preceding month
                                        October                                   November
                                        Previous   Revised   Previous   Revised   Previous   Revised   Previous   Revised
                                       (Billions of dollars)      (percent)      (Billions of dollars)      (percent)
Personal income:
 Current dollars                           -11.7     -16.9       -0.1      -0.1       30.1      29.8        0.2       0.2
Disposable personal income:
 Current dollars                           -25.6     -28.7       -0.2      -0.2       16.2      14.4        0.1       0.1
 Chained (2009) dollars                    -20.9     -25.2       -0.2      -0.2       12.5      11.5        0.1       0.1
Personal consumption expenditures:
 Current dollars                            44.2      12.7        0.4       0.1       63.0      74.8        0.5       0.6
 Chained (2009) dollars                     43.8      13.2        0.4       0.1       56.2      67.8        0.5       0.6

BEA's national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are
available without charge on BEA's Web site at www.bea.gov. By visiting the site, you can also subscribe to free e-mail summaries

of BEA releases and announcements.

                                *          *          *

Next release -- March 3, 2014 at 8:30 A.M. EST for Personal Income and Outlays for January